2017 Global Payments Insight Survey: Retail Banking
The payments market is changing. Across the value chain, organizations are investing in technology as they try to adjust to a shifting market. Both existing and new players are now creating new payments models and, in the process, upending existing business paradigms. Market participants now have to create new strategies to address the changes occurring and seize the opportunity these payment shifts are bringing.
Critical to forming an effective payments strategy is understanding how the forces at play in the industry affect all corners of the value chain. Organizations of all types must understand how these changes fit in with existing payments capabilities and business priorities.
Starting in 2015, technology analyst house Ovum, in conjunction with ACI Worldwide, has conducted the annual Ovum Global Payments Insight Survey. This global survey of merchants, retail banks and billing organizations examines strategic plans and IT investment trends, asking respondents about their experiences, perceptions and expectations of payments and how this is shaping their investment and development activity.
This report examines the challenges and opportunities facing retail banks, and highlights the key findings from the third year of this research program. It provides an analysis of how the immediate challenges of today’s regulatory and competitive landscape are driving investment to deliver on the requirements of financial institutions for both the short and long-term. It is one part of a four-part series based on Ovum’s 2017 survey.
Read the report from here